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Brakke Consulting’s
Animal Health News & Notes for March 7, 2014
Copyright © Brakke Consulting, Inc.
Editor: Lynn Fondon DVM MBA
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IN THE NEWS:
Brakke Consulting news
Transaction assistance
earnings news
Kindred BioSciences
PetSmart
other news
Abbott
Cross VetPharm
DermaZoo
Global Animal Management
Huvepharma
IMI Global
Merck
Oasmia Pharmaceutical
PetSmart
VetriScience Labs
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COMPANY EARNINGS RELEASES
> PetSmart, Inc. announced financial results for the fiscal year 2013 ended February 2, 2014. Net sales for the year were $6.9 billion, up 4%. Net income was $419 million, an increase of 8% compared to the prior year. Note that fiscal year 2013 was a 52-week year, versus a 53-week year in fiscal year 2012. (Business wire)
> Kindred Biosciences, Inc. announced financial results for the year ended December 31, 2013. For the year, its first full year of operations, Kindred Bio reported a net loss of ($4.2 million). As of December 31, 2013, Kindred Bio had $65.3 million in cash and cash equivalents. (PRNewswire)
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KC ANIMAL HEALTH CORRIDOR
ANIMAL HEALTH INVESTMENT FORUM
NOW ACCEPTING PRESENTER APPLICATIONS
The KC Animal Health Corridor is now accepting applications to present at the 2014 KC Animal Health Investment Forum on August 26 in Kansas City, Missouri.
Now in its sixth year, the Forum is one of the only opportunities in the world for early-stage companies in the animal health sector to present their vision, business plan and technology to potential investors.
The selection committee will consider companies that meet the following criteria:
– Seeking $500,000 – $20 million in funding
– Revenue projections of $20 million within 5-7 years
Applications are due on April 18. To apply, go to http://www.kcanimalhealthforum.com/index.php/apply-to-present/. For more information, contact Kimberly Young at young@thinkkc.com.
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COMPANY NEWS RELEASES
> Where Food Comes From, Inc., d.b.a. IMI Global, Inc., announced it has agreed to acquire certain assets of Global Animal Management Inc., which is owned by Merck Animal Health. Under the agreement, IMI Global will assume responsibility for auditing cattle producers previously audited by Merck Animal Health. Financial terms of the transaction were not disclosed. (Marketwatch)
> The FDA approved an Abbreviated New Animal Drug Application (ANADA) for Cross VetPharm Group’s SulfaMed (generic sulfadimethoxine) injection for use in cattle. (FDA)
> The FDA approved a New Animal Drug Application (NADA) for Huvepharma’s Coyden 25 and Flavomycin (clopidol and bambermycins) as an aid in the prevention of coccidiosis and for increased rate of weight gain and improved feed efficiency in broiler chickens. (FDA)
> Oasmia Pharmaceutical AB announced the conditional approval of Paccal Vet-CA1 (paclitaxel for injection) by the FDA for the treatment of canine mammary carcinoma and squamous cell carcinoma. Oasmia has an agreement with the global health care company Abbott which gives its Animal Health division the exclusive worldwide distribution rights to Paccal Vet-CA1, excluding Russia, Japan and the Commonwealth of Independent States (CIS). (Wall Street Journal)
> DermaZoo Pharma LLC announced the release of their newest product, TrisOphtho Eye Wipes for dogs, cat and horses. The wipes contain a patent pending formula which includes EDTA, tromethamine, and 0.002% chlorhexidine. (company press release)
> VetriScience Laboratories announced the launch of Vetri FLEX, a veterinarian exclusive supplement formulated with branded ingredients extracted with Phytosome technology for superior bioavailability. Vetri FLEX is designed to support joint, muscle, brain, liver and GI tract function. (company press release)
> PetSmart announced it will be the exclusive pet retailer to sell the Whistle Activity Monitor, a new device that allows pet parents to keep tabs on how much their dogs are walking, playing and resting. The Whistle Activity Monitor attaches to the dog’s existing collar and wirelessly sends the information to a connected smartphone. (Vet Advantage)
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ANIMAL HEALTH NEWS
> NETHERLANDS – AVIAN INFLUENZA There has been a large outbreak of low pathogenic avian influenza in north central Netherlands, according the World Organization for Animal Health (OIE). Some 40,237 susceptible chickens were destroyed. Quarantine restrictions are in place; a vaccine strategy has not been employed. (Animal Pharm)
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BRAKKE CONSULTING, INC.
TRANSACTION ASSISTANCE
Buying, selling or merging? We can help!
Brakke Consulting assists many clients with mergers, acquisitions and divestitures. Our transaction experts can provide the insight, ability and contacts you need in the animal health, pet, veterinary and specialty chemicals markets. Please contact any of our offices for a confidential consultation.
www.BrakkeConsulting.com
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BRAKKE CONSULTING VIEWPOINT
The earnings news provides a nice counterpoint in size. PetSmart has to be one of the biggest companies in the industry. And they reported nice growth, especially considering the shorter year in 2013 (same store sales were up 2.7%). At the other end, Kindred Bio is one of the newest companies but appears to have enough cash to fund its objectives.
Which leads to the subject of new products. Oncology is one of the usual suspects when discussions turn to growth opportunities in the pet health area. This week, we have news of an oncology product, developed by one company and marketed by an established animal health company. This is a rather common occurrence in our industry. If you would like participate in this activity, the KC Animal Health Investment Forum is a good place to start.
John Mannhaupt
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Brakke Consulting, Inc.
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Dallas, TX 75234 USA
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